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Which Renovations Create the Most Resale Value?

Cara Pahoyo August 16, 2017 0

Renovations that Create The Most Resale Value

If you’re considering getting your real estate license, it is essential that you enter a real estate pre-license program to round out your skills. You’ll learn that you are often called on to counsel clients about the small things that can increase the sale price or quicken the sale itself.

Taking advantage of a client is never a good thing, but passing on your knowledge of the market and the small, relatively inexpensive improvements and creative home designs that will facilitate a quick sale at a good price is a great thing. So here are the items you can pass on to your client that will increase the likelihood of a sale at a good price.

ATTIC INSULATION

No matter your location, investing in improved attic insulation always has a positive return on the money and time spent. If the attic insulation is not up to the standards for the area, recommend a quick installation of insulation to the client. Push the increase in resale value and the advantages realized in heat and cooling bills during the year. The resulting boost in home value alone will more than pay for the installation.

OUTSIDE WALL APPEAL

Gone are the days when the smooth vinyl siding look was the most appealing on the market. Advise your client to add Manufactured Stone Veneer to strategic spots on the outside walls. The modern veneer products are a mixture of Portland cement, and iron oxides baked in molds to appear like stone. These veneers often come in dimensions more than two-inches thick giving the appearance of the real stone product without the price. Pay attention to the curb facing walls. This low-cost method of transforming the curb appearance of the home invites bids from clients who may otherwise pass-up the home. Adding a Manufacture Stone Veneer has proven to increase the return on investment almost dollar for dollar.

THE GRAND ENTRYWAY

One of those things unlikely to come to mind as a great investment that pays off when reselling a home is to replace the wood door main-entry with an updated and tough steel door. The replacement of the front door brings perks that the homeowner may not have considered. First, these steel doors are tougher and give a possible buyer a sense of security. Second, manufacturers of steel doors have recognized the assumptions made by clients regarding steel doors. They envision a chunk of metal, heavy, hard to move, and unattractive. Manufacturers have developed a vast array of door designs that appeal to any eye. The doors come balanced and ready to install, and any professional will have no problem providing a clean, strong, and attractive steel door that will increase curb value.

THE GARAGE DOOR

Another unlikely renovation is the upgrade of an existing garage door. With other changes such as the upgrading of the front entry and the appearance of the present home siding with a textured stone veneer, the upgrade to a modern steel garage door makes sense. Garage doors have always been an easy way to upgrade curb appeal.

The cost of a garage door upgrade is small when compared to a bathroom or kitchen remodel. When potential buyers see the extra effort put into security, their interests increase. Buyers already assume that the foundations of a house will work. The plumbing does not leak, the electrical sockets are all grounded, the foundation is firm, the roof is leak-proof, and the air-conditioning and heating are well maintained. Potential home owners appreciate the often-overlooked upgrades that sellers invest in.

These four low-cost renovations significantly improve a home’s functionality. The potential buyer will most likely not be impressed with the attic insulation, but a mention of any upgrade in that area will give the potential buyer a nudge towards making an offer. The next three renovations involve curb appeal. Believe it or not, “curb appeal” projects often generate more enthusiasm toward a sale than interior remodels.

Real Estate CE

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